Renting or Buying - Excellent Article from Research Company ATTOM

ATTOM Research Solutions has recently released a report showing Affordability in areas for Buying or Renting. As you can see in the link below Huntsville, Alabama (Madison County) made it into their data points.  It reports that it is more affordable to buy than rent. It also states from the data collected that the average percent of average wages to rent for 2018 is approximately 22%. On the other side reading through its 2017 4th Quarter Home Affordability numbers, ATTOM reports percent of wages to purchase home is approximately 20%. For more information on the report please click the link below.

https://www.attomdata.com/news/affordability/2018-rental-affordability-report/

RealEstateofHuntsville

Fantastic New Huntsville Real Estate App is Out!!!

 

The Great New Huntsville Real Estate App is out.  Search on the go with this new mobile app!!  Wonderful functions and search abilities both by list and map and also looks a commercial properties and rentals!  Take a look and input my code when you install it!!: KW20TM0R4

For Apple users:  https://itunes.apple.com/us/app/keller-williams-realty-real/id652512924?mt=8

For Android users:  https://play.google.com/store/apps/details?id=com.smarteragent.android.kw

Searching has never been so easy by list or mapping out your search.  Check it out for yourself!! 

Huntsville Metro Area Homes

What to take with you when viewing a home

A tiny post today on something not normally thought about.  What to take with you when viewing a home?

Pen - Have at least two in case one goes bad.

Notepad/Notebook - Have something to write on to take notes about what you see.

Drink or Bottle of water - Not for actual drinking but to moisten the mouth and throat for speaking with the realtor or others.  You wouldn't believe how raspy a voice can become when viewing homes.  Leave the drink in the vehicle when you enter the house.

Flyer or Printout - This can either be in the flyer box in front of the house or an online printout of the property.  Something you can take back with you to make it easy for you to remember room by room.

Questions - Always come with questions.  There are many to ask if not specified in online information, flyers, printouts, public tax records.  You can find out more about a property if you just ask.

These are the basics, but there are other optional that you can bring if you want.  Electronic measuring devices would be one great example of something that a potential buyer can bring.  Sometimes, those stretch out measuring tapes can't get in certain areas or move in ways you want them to.

Today's Tidbit:  Remember rules of etiquette when entering someone else's home.  I.E. Don't touch something that doesn't belong to you.  Its ok to turn on light switches, etc, but don't try to swing from the ceiling fan or use the seller's exercise equipment.  Likewise sellers shouldn't be demanding of potential buyers that come into their home such as taking off shoes or having potential buyers wade through dirty laundry in the hallway.

Here's also an interesting article on American speech patterns in different parts of the country.  We found it over the weekend and thought it would be fun to share it with everyone.

Huntsville Metro Area Homes

What Brings Your Home Value Down?

This morning we're talking Home Value.  This is one subject that can be touched by both direct and indirect influences.  And there are certainly a lot of things that can affect your home value in the most negative of ways.  Here are reminders of what to be wary of as they'll bring your home value down, and the more these below come into alignment the more the value will sink.

If you or your neighbor has an unkempt yard, whether it be junk storage, too high of grass and weeds, or debris from storm damage.  This is one of the most obvious signs of lowering home value.

Certain commercial businesses (power plants, funeral homes, pawn shops) come with an inherent negative reputation either by way of sight, emotion or in case of power plant can be noise, pollution, or something massive looming over your property.

Certain government businesses (city hall, section 8 housing, landfills) as with some commercial businesses have high visibility as being part of aiding a negative push.

Depending on where you live and what laws are on the books, the availability of information about location sex offenders could be easy or hard to find.  This is another indirect negative value as some cities have put restrictions that sex offenders can only live in certain neighborhoods.

A large indirect negative has always been foreclosed homes.  These can easily be described as black holes sucking down the home value of the entire neighborhood.  The more it stays vacant and continues to lack maintenance, the stronger the negative pull will be.

The negative value of cars, trucks, and haulers on major highway can easily be seen by any potential buyer.

Empty or closed schools gives the vision of a neighborhood in decline, and an eye sore for the community.

Environmental hazards in the area either known or unknown can have a huge effect on home value.  Examples can be Chernobyl/Three Mile Island, train accidents which are transporting chemicals (as we've seen recently with chlorine spills), polluted groundwater, areas of regular forest fires, and flood zones among others.

We have seen this several times, and yet to figure out why this happens?  If there's a power pole on your property with lines cutting through the house.  This is definitely not the best situation.  If these lines fall onto the house or property there can be many unintended side effects from electrocution, house fires, as well as dangers to other properties nearby.

Having no garage attached to house can drop home value down almost immediately by over $20,000 just for a single car garage.

Bad landscaping is something that should be taken care of, and instead of a negative turn it into a positive.  Make it look nice and inviting.

Bad or roofs falling apart can be negative signs for not only the owner but neighbors as well.  A collapsed roof brings an immediate eyesore to the neighborhood, and if there's a storm before or after a collapse - debris could end up on neighbor's property or doing damage to those properties.

And lastly we have something that is another indirect negative.  A self inflicted wound.  Bad or incorrect home appraisals.  There are times when home appraisers make mistakes or just don't know how to do the job.  This can affect both your property as well as neighbors property's home values.  This negative continues as the appraisal is passed along to the local tax office in which you could end up paying an incorrect amount.  We've even known the local tax appraisals to be incorrect at times.

Keep your home value high, try to watch out for these or lessen the effects.

Huntsville Metro Area Homes

This Weekend's Events: Panoply & Spring Tour of Homes

This weekend it looks like we have two events colliding.  On Friday, Saturday and Sunday (Apr 26-28) we have Panoply Arts Festival.  For this weekend and next weekend, the Madison County Builders Association is holding the Spring Tour of Homes.

Panoply is always an interesting experience, you'll never know what or who you'll see.  The music you hear, the dancing, and the delicious food.  Two of AL.com's contributors, Matt Wake & Pat Ammons have put together guides to help find food and events.  Additional Panoply information is also available, and additional AL.com coverage.

The Madison County Builders Association's Spring Tour of Homes is a wonderful showcase.  This year there are 82 properties on the list that are available for viewing 1-5PM Sat & Sun Apr 26-18, and May 4-5th. Information can be found at the Spring Tour of Homes website, as well as locations on their East Map, and West Map.  With the Tour showcasing its best, go ahead and take a look.  And if you see any that interest you don't forget to call us!  After all, when buying a new home rule #1 don't forget to bring your realtor!

Go out and have fun, we'll see you at Panoply!

Huntsville Metro Area Homes

For Sale By Owner - The Dangers of Going It Alone and the Benefits of having a Realtor

Every once in a while, we all know someone who says "I'm going to do it myself."  In real estate, these are the types of situations as a buyer or seller that could get you into financial or legal problems if not done correctly.  We strongly advise against a go-it-alone strategy.  

A Realtor provides...

Research!
1)A Realtor can provide you with a comparative market analysis including recent sales data to help you accurately price your home.
2)What if your home does not sell quickly? Realtors can keep you up-to-date on current sales activity in your neighborhood, as well as new competing listings and any other factors that may be affecting sales such as new homes or foreclosures in the area. They can assist you with price adjustments as necessary. Sellers have no access to current sales data and would have to “blindly” adjust their price if their home does not sell quickly.  The public does not have access to recent sales data.
3)In terms of Buyer Research, Sellers do not have the ability to properly pre-qualify buyers before letting them into their homes.  Realtors can pre-qualify potential buyers to make sure they are qualified prospects before showing them your home.

Marketing!
1)For sale by owner listings are generally not listed on any major real estate listing distributors. Buyers will therefore not see a for sale by owner listing when shopping for homes.  This limits exposure by a large margin. Realtors also generally advertise in paper publications and on their own personal websites, generating additional exposure for your home.  For sale by owner listings are not listed in real estate magazines.
2)The high vast majority of the active listings are advertised on major real estate listing distributors. For Sale By Owner listings are not included on those sites. Buyers & agents are shopping the Internet to find homes—they will not see a FSBO listing!  We believe Trulia came out with an article that said currently the number of potential buyers looking online is at over 85% of the pool of buyers.

Negotiations!
1)Realtors are skilled negotiators and are well-versed in contract legal terminology. They can assist you in obtaining top-dollar for your home and negotiate contract terms that work best for you and avoid pitfalls you might not see yourself.

2)Sellers do not have access to local area contract forms whether it be HAAR, Marshall County, etc.
3)Realtors stay in contact with the buyer’s lender, agent, and title company after a contract is signed. 4)Realtors are crucial in helping to coordinate closing and ensure that all critical details are completed as agreed upon.

Overall, if we said it once we will say it over and over again.  You can let the Realtor become one of your closest allies, if you let them.  Trust in your Realtor and they'll take you far.

Today's Tidbit:  There is nothing wrong with interviewing an agent.  Some people go through four or five interviews before they find the right agent to represent them.  If you already have an agent then you know that you have to feel comfortable about who you're working with.  If you don't feel comfortable working with your agent, then you're already on a bad footing and could have some trust issues later on down the road.  Experience and their willingness to protect your interests are two of the top things you should look for in an agent.

Huntsville Metro Area Homes